Answer ALL the questions.

$(100$ MARKS$)$

QUESTION $1$

$(20$ Marks$)$

REQUIRED

Prepare the Process Cost Report for Process $2$ using the FIFO method.

INFORMATION

Bravo Ltd uses two processes to manufacture cushions. The following detals are applicable to Process $2$ for March $2024$:

$\backslash$table$[[$Production details,Units$],[$Units of incomplete work $($opening$),],[($Materials: $100\%$ complete; Conversion costs: $40\%$ complete$),40000],[$Units received from the previous process,$160000],[$Units completed and transferred,?